• Bank Negara Malaysia’s (BNM) international reserves stood at US$102.8 billion as at May 15, 2019 from US$103.4 billion at April 30, 2019 • Tekun Nasional has channelled business financing worth RM140 million since the beginning of this year until April 30, 2019 • Malaysia's labour productivity grows 2.4 per cent in Q1 2019 • Malaysia's CPI rose 0.2 per cent in April 2019 to 121.1 compared to 120.9 in the same month of the preceding year: Department of Statistics Malaysia

HONG KONG • Altaba Inc, the holding company formed from the overseas investments of the former Yahoo! Inc, will raise about US$4.34 billion (RM18.01 billion) by selling its entire stake in Yahoo Japan Corp.

The company increased the size of the deal to include its entire 1.36 billion shareholding after initially saying it planned to sell about 750 million shares to raise about US$2.5 billion, according to terms of the deal obtained by Bloomberg.

Altaba is offering shares of Yahoo Japan at ¥354 (RM13.19) each, representing a discount of 4.6% to the stock’s last close, the company said on Monday in a statement. Yahoo Japan shares fell as much as 3.5% in Tokyo, the biggest intraday decline in a month.

Altaba is Yahoo Japan’s second-largest shareholder with a 23.9% stake, trailing only SoftBank Group Corp, data compiled by Bloomberg show. It is Altaba’s second major sale of the Japanese company’s shares this year.

“Yahoo Japan’s equity supply/demand may worsen temporarily as a result, but longer term, we expect the outcome will be positive for the firm,” Eiji Maeda, an analyst at SMBC Nikko Securities Inc, wrote in a report.

JPMorgan Chase & Co and Goldman Sachs Group Inc are arranging the offering, the terms show.

In February, Altaba warned that it would start divesting what was then a 35% stake in Yahoo Japan, fuelling a sell-off of the Japanese web portal. — Bloomberg